Short Answer
Shane Morita opened a pet store near a school, hoping that children would see the pets in the window as they walked home. Almost immediately he needed to borrow money to maintain the pets. He got a 90-day loan for $5,600 at 9.3% exact simple interest. Compute the amount of Shane's total obligation in 90 days. (Use a 365-day year.)
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$5,600 × 0.093 × 90/...View Answer
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Correct Answer:
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